Many in the advertising business would love to read some great numbers right now, or even some sort of okay numbers. Unfortunately, a just-released Magna forecast (via MediaLife) indicates that second quarter 2009, which we hoped would be better than first quarter, was bad too. And while everyone's hoping second quarter might have been the bottom, almost no one thinks a full rebound is looming anytime soon. Some forecasted numbers from Magna:
- Full year 2009 spending will decline 14.5% to $161 billion
- First half 2009 spending will be down 18%
- Declines should slow through 2010
This forecast is worse than their last report, released in December 2008, but then the economy has gotten worse since then. Read the entire MediaLife story here, complete with charts.